Examples of Loss Adjustment Expense in a sentence
Loss adjustment expense is statutorily set at 5% of losses recoverable from the FHCF.
Loss adjustment expense related to claims processing is estimated based on the relatively constant ratio to losses projected for the previous two years.
Loss adjustment expense reserves, or reserves for the costs associated with the investigation and settlement of a claim, are also bulk reserves representing the Company’s estimate of the costs associated with the claims handling process.
Loss adjustment expense (LAE) – The selection of this component was discussed earlier in connection with the proposed voluntary loss cost level change.
Loss adjustment expense reserves include amounts ultimately allocable to individual claims as well as amounts required for the general overhead of the claims handling operation that are not specifically allocable to individual claims.